Prime Minister Abe recently announced that Japan would participate in the Trans-Pacific Partnership negotiations, with all other Trans-Pacific Partnership parties now having accepted Japan.1 This trade demarche is viewed as a key part of ‘Abenomics’ (Petri, Plummer and Zhai 2013). Although the dye has been cast, the debate in Japan has not ended.
Estimating the effect of the TPP on Japan’s growth
Yasuyuki Todo, 11 May 2013
Augmented inflation targeting: Le roi est mort, vive le roi
Richard Baldwin, Daniel Gros, 17 April 2013
The Bank of Japan recently embraced inflation targeting – a decade and a half after academics recommended it (Krugman 2013). But this is not inflation targeting as conceived before the Global Crisis.
The much-needed EU pivot to east Asia
Patrick A Messerlin, 16 April 2013
The EU is facing formidable challenges. The economic crisis is far from over in many Eurozone and non-Eurozone member states. The EU’s current macroeconomic and budgetary policies are not politically sustainable at the EU’s current anaemic growth rate.
Public investments for long-term economic growth: the case of health
Michael Stolpe, 22 March 2013
Crisis or not, healthcare cries out for large-scale public investments that lock in what appears to be an historic trough in government borrowing costs in many of the world’s advanced countries.
Investigating the effect of exchange-rate changes in Japan, China, east Asia, and Europe
Willem Thorbecke, 26 February 2013
Policymakers are concerned about currency wars and competitive devaluations. Many complain that trading partners are artificially lowering their exchange rates through quantitative easing and managed exchange rates in order to gain price competitiveness for their exporters.
Things we must consider in shaping Japanese economic policy for the future
Keiichiro Kobayashi, 10 February 2013
With the Japanese government now under the stewardship of Prime Minister Shinzo Abe, Japan is set to pursue economic policy that calls for bold monetary easing in order to end deflation.
The reduction of school days in Japan increased educational inequality
Daiji Kawaguchi, 2 February 2013
One of the major objectives of compulsory education is to assure uniform educational opportunities for all children regardless of their socioeconomic background. For that reason, most advanced countries provide compulsory education as well as textbooks free of charge.
Currency intervention as global monetary easing: The case of Japan in 2003-04
Petra Gerlach-Kristen, Robert McCauley, Kazuo Ueda, 7 November 2012
One consequence of monetary easing in major economies most affected by the financial crisis is the subsequent currency appreciation in apparently separate economies that are less affected by the crisis, such as those of Japan, Switzerland, and many emerging economies.
The doomsday cycle turns: Who’s next?
Simon Johnson, Peter Boone, 21 September 2012
There is a common problem underlying the economic troubles of Europe, Japan, and the US: the symbiotic relationship between politicians who heed narrow interests and the growth of a financial sector that has become increasingly opaque (Igan and Mishra 2011).
Impact of localisation and urbanisation on productivity: Empirical analysis based on establishments data in Japan
Yoko Konishi, Yukiko Umeno Saito, 10 September 2012
There have been an increasing number of empirical studies on localisation and urbanisation in recent years. Ever since Ellison and Glaeser (1997) presented their index for industrial localisation based on their theoretical model, there has been much subsequent empirical work examining the effects of agglomeration on productivity using their findings.
- Distilling the macroeconomic news flowBeber, Brandt, Luisi
- Fiscal consolidation: At what speed?Blanchard, Leigh
- Public debt and economic growth, one more timePanizza, Presbitero
- Escaping liquidity traps: Lessons from the UK’s 1930s escapeCrafts
- The lessons of the North Atlantic crisis for economic theory and policyStiglitz
- A tale of two depressions: What do the new data tell us? February 2010 updateEichengreen, O’Rourke
- Educated in America: College graduates and high school dropoutsHeckman, LaFontaine
- Eurozone breakup would trigger the mother of all financial crisesEichengreen
- Debt, deleveraging, and the liquidity trap: A new modelKrugman
- Panic-driven austerity in the Eurozone and its implicationsDe Grauwe, Ji
Reichlin, Baldwin, 14 April 2013
CEPR Policy Research
- Political Credit Cycles: The Case of the Euro ZoneFernández-Villaverde, Garicano, Santos
- Winning by Losing: Incentive Incompatibility in Multiple QualifiersDagaev, Sonin
- Income and schoolingBrückner, Gradstein
- Monetary Policy and Rational Asset Price BubblesGalí
- Does Supporting Passenger Railways Reduce Road Traffic Externalities?Lalive, Luechinger, Schmutzler
- How the EZ crisis is permanently changing EU institutionsMicossi
- WTO 2.0: Global governance of supply-chain tradeBaldwin
- Is US economic growth over? Faltering innovation confronts the six headwindsGordon
- The economic crisis: How to stimulate economies without increasing public debtWood
- Austerity: Too Much of a Good Thing?Corsetti